Compare Top Forex Brokers in the UK
If you are opening a new or switching account compare security, spreads, markets and features from top Forex brokers.
All the brokers are authorised and regulated by the Financial Conduct Authority where client funds are segregated and protected under FSCS. If you want to convert one currency to another and send money abroad you need a currency broker.
Forex trading carries a high level or risk and losses can exceed your deposits.
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ETX Capital are one of the oldest forex brokers in the UK. ETX was founded in 1965 as Monecor and remains a member of the London Stock exchange. They offer tight spreads as low as 0.7 on EuroDollar and 0.9 on other FX pairs. ETX has won some pretty decent awards including: Money AM Awards 2012 Best Online Charts. Investment Trends Award 2013 Best Value for Money and UK Forex Award 2013 Best Forex Trading Tool & Software.For new clients they offer a no deposit £20 to test their Pro, MT4 and Binary trading platforms. For depositing clients it is possible to claim up to £3,750 as a welcome bonus (more info).
IG Forex Trading
IG are the largest forex broker in the UK, by both market capitalization (they are listed on the LSE with a mkt cap of over £2.5bn) and active client base. As such IG invest have one of the largest range of markets available through their trading platform and some of the best free trader tools available to clients you can test their platform by opening a demo account here.
Core Spreads are one of the newest forex brokers offering spread betting in the UK. Core Spreads objective to to provide the tightest spreads in the industry but offering an execution only platform (i.e. now news, analysis, or trader tools). For forex traders looking to reduce trading costs Core Spreads offer a simple, quick and easy to use trading platform find out more. For new clients they also offer a 50% rebate on your first month’s trading costs (which is a bit like an uncapped welcome bonus (sort of)).
Spreadex are a nice old school forex spread betting broker broker located just outside London. They tend to cater for more professional traders who value customer service above pricing. As well as forex spread betting Spreadex also offer sport spread betting, fixed odds betting and binary betting. So if you’re looking for a one stop shop to take care of your trading and gambling needs Spreadex may fit the bill. They’ve been around since the 1990’s and have won a plethora of awards, most recently the Wealth and Financial International, Alternative Investment Awards 2016 (Best Spread Betting Provider – winner) and City of London Wealth Management Awards 2016 (Best Spread Betting Provider – winner). Which is nice. You’ll also find some excellent spread betting welcome offers for new clients, like iPads, Sonos, 5% profit top ups and so on. Check out their promotions on their website for more info.
ayondo are one of the more innovative forex brokers as they focus on offering social trading. So you can basically copy other spread betting traders and make money when they make money. They offer new clients £500 to switch accounts to drum up new business and offer traditional forex trading as well. You can even set your margin limits to 100% if you want to trade on a non-leveraged basis and just take advantage of the tax breaks. If you go to ayondo because of the social trading feature you can earn money by getting other traders to follow you or by choosing a winning trader to follow. Obviously picking a winning trader to follow is just as hard as picking a winning stock! Sign up with ayondo here.
How are the top FX brokers chosen?
The above top ten Forex brokers are chosen based on the below categories:
- The FOREX broker must be authorised and regulated by the Financial Conduct Authority
- The FX company must have a office in London, the global centre of the FX market
- Offer customers 24/5 customer support and online trading
- Have industry standard tights spreads and low trading costs for active customers
- Provide at least one form of added value over other foreign exchange brokers
There are hundreds of FX brokers offering access to the FX market so customers can trade FOREX online. This site aims to help new and experienced FX traders find a secure and safe broker for their trading.
Forex Brokers that offer trading on MT4
MT4 is one of the best trading platforms for speculating on the FX market. There are around 600 brokers that provide access to MT4 through thier Forex accounts. However, of the 600 only a handful are really any good and offer significant value above the competition. MT4 brokers gives traders some of the best tools in the market from automated trading signs, expert advisors to professional trade technical analysis and indicators it is well worth a good with one of the top MT4 brokers.
Best Forex accounts for trading EURUSD, GBPUSD and USDJPY online
The top three traded currency pairs are where the best brokers win business from their competitors. Many Forex brokers now offer access to over 10,000 asset classes from UK, EUR, and US shares, indices, commodities to fixed income. But the majority of trading volume will go through the most liquid Forex pairs, EURUSD, GBPUSD and USDJPY. Make sure you read our guide to the top forex accounts for the most popular FX pairs.
Major Forex brokers in the UK – a quick summary.
If you don’t have time to trawl the internet reading endless reviews of the thousands of Forex brokers now offering online Forex trading, have a quick read of oursummary of the major Forex brokers in the UK. No fuss, just a concise list of the biggest, best and most respected forex brokers in the business – all UK based and regulated by the FCA.
Three key points to look for in a Forex broker
It’s important when you choose a forex broker that you understand the risks and rewards of trading foreign exchange online. These key features of any decent Fx broker will mean that your expectations are met, your funds are protected, you get a good level or customer service. See the three key things to look for when choosing a Forex broker here.
Get the best welcome offers bonuses when you switch Forex brokers.
Diversification applies to your forex broker as well as your investment portfolio. All traders should have at least three live brokerage accounts to spread counterpart risk. Unfortunately brokers do go bust, and whilst funds up to a certain point are protected by the FSCS if your broker is FCA regulated, by having a range of brokers to trade through you can increase your funds on account by taking advantage of welcome offers. You’ll be trading anyway so why take advantages of all the brokers our there offering deposit bonuses to win your business. Read up on how welcome bonuses work and where to get the best offers here.
Trading Forex through a binary options broker.
Binary options are one of the fastest ways to trade Forex online. There is seemingly a new broker everyday setting up shop but only a handful are worthy of your business. It’s important that when ever you open a new trading account that you follow this check list of three things to avoid when looking for a binary options broker.
Top Two FOREX new client offers
- #1 – ETX Capital – Get up to £6,000 on your first month deposits – apply here.
- #2 – Core Spreads – Get up to £10,000 based on your initial deposit – apply here.
Forex Broker Reviews – “top four” Recommended FOREX Brokers…
If you want to find out a little more about the best FX brokers take a few moments to read our quick fire FOREX broker reviews. All Forex brokers reviewed are of good standing and authorised and regulated by the Financial Conduct Authority. If you want tax free profits we also provide information on the best forex spread betting companies.
#1 ETX Capital Review
ETX Capital are one of the oldest brokers on this list and at the top of the top five Forex brokers list. They were first founded in 1965 as Monecor and focus on looking after bigger high net worth customers who need a professional trading platforms and dealers. ETX Capital is privately help and employs around 90 people in the UK office The name ETX refers to Electronic Trading, Telephone Trading and EXecutions Services. ETX Capital are also a member of the London Stock Exchange.
ETX offer four platforms to choose from – ETX Trader, ETX Pro, Binary and MT4. ETX Pro is by far the best platform they offer for all round traders. But larger Forex traders may want to also have an MT4 account. MT4 offers some of the tightest FX spreads in the industry as well as some very advanced technical tools for FX pastern recognition.
New clients who open an account here can claim a welcome bonus of up to £6,000. This is withdraw-able once you have executed a certain amount of trades. You can claim back half your trading costs, so if you trade £12,000 in £ per point you can withdraw the funds. It is one of the best welcome offers in the spread betting, CFD, MT4 and Forex market place at the moment.
Who are they good for? Larger clients with more than £10k in their account
#2 Core Spreads Review
Core Spreads are one of the newest brokers in our “top ten forex brokers” list. Even though they are new then stand out as one of the best Forex brokers because of their pricing structure. They offer the tightest spreads on FX pairs (and other major instruments) and are unashamedly focused on providing low trading costs and nothing else.
The trading platform is very robust and user friendly. The entire ethos is to make it quick, easy and cheap for customers to trade. They also offer a “one-click” demo account so you can try the platform without having to register.
To entice new traders, they offer one of the largest initial deposit bonuses of up to £10,000. To qualify for the bonus you need to open a live account, deposit funds and trade at least twice as much in per point bets that you want to claim.
Who are they good for? Traders who want the tightest spreads.
#3 Investors Intelligence Spread Betting Review
Investors Intelligence has been proving research, data and trading signals since 1947. The company is based in Chelsea and uses the technology from London Capital Group to power it’s FX trading platform. They cater mainly to experienced and professional traders, who use their data to get an edge over the market.
Investors Intelligence provide a directional indicator based on point and figure charting on all FX pairs as well as stop, entry and exit levels. Their unique set of indicators scan the markets for trading signals and opportunities. These are then displayed along side the charting package and also condensed into a daily report that is email to clients and also available online.
Who are they good for? Experienced and sophisticated traders who understand technical analysis.
#4 Spreadex Review
Spreadex is a smaller player in the FOREX market but makes the top five of our top ten FX brokers in the UK because of their approach to clients. They are based just outside London, offer sports spread betting and have a more personal feel than some of the bigger brokers.
They have been going since 1999, employ well over 100 people at their St Albans head office and are not scared of buying up technology and other brokers. In fact, it is by their constant approach to innovation and expansion that they offer one of the best trading experiences whilst quietly looking after their clients.
The trading platform is bespoke and built in house and has improved dramatically over the years. You’ll find good prices a wide range of exotic pairs and some good educational and technical tools.
The welcome offers also give a good indication of what sort of client they like to have. They don’t offer deposit bonuses, but rather opt to let their clients earn friendly gifts like an iPad Air, Sonos Sound System or £200 worth of free sports spread bets.
Who are they good for? Traders that prefer customer service to tight spreads.
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